Despite much hype about the world becoming flat and more global, the world is in fact becoming more regional than global, said Richard Rumelt, a professor of business strategy at UCLA Anderson Business School.
"We find trade increasing all around the world, but we find trade is increasing inside regions faster than across regions, so the truth is, international trade data show that the world is becoming more regional, not more global," Rumelt told the June 6 symposium.
Citing a study by an American scholar, Rumelt went on to say that very few of the world's leading companies are "truly global" and that almost all companies are firmly tied to their home region.